GM to Tiger: No more free cars

By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- General Motors confirmed Wednesday that it put an end to an agreement with Tiger Woods that allowed the golfer to drive its vehicles for free.

GM and Woods ended the golfer's endorsement contract with Buick in 2008, but continued a deal that allowed Woods to keep several GM loaner cars, including the the Cadillac Escalade he was driving in the car crash that ultimately revealed the athlete's marital infidelity.

The arrangement ended Dec. 31. A GM spokesperson confirmed that the termination date had been previously scheduled.

Several of Woods' major sponsors, including AT&T (T, Fortune 500) and Accenture (ACN), ended their business relationships with Woods following the Nov. 27 crash and the exposure of his marriage troubles.

But other companies, like Nike (NKE, Fortune 500) and Pepsi's (PEP, Fortune 500) Gatorade continue to sponsor Woods, who has taken a break from his professional golfing career. Procter & Gamble's (PG, Fortune 500) Gillette said it would stop airing commercials featuring the golfer for a while. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play

Search for Jobs

Index Last Change % Change
Dow 18,135.72 38.82 0.21%
Nasdaq 4,982.81 15.67 0.32%
S&P 500 2,101.04 2.51 0.12%
Treasuries 2.11 -0.01 -0.52%
Data as of 5:34pm ET
Company Price Change % Change
Bank of America Corp... 16.00 0.16 1.01%
Apple Inc 126.41 -2.13 -1.66%
AbbVie Inc 56.86 -3.41 -5.66%
General Electric Co 25.82 0.16 0.62%
Avon Products Inc 9.05 -0.05 -0.55%
Data as of 4:02pm ET
Sponsors

Sections

The company Allstar allegedly lured customers in with misleading TV commercials and then overcharged them. More

Wage growth has become the central focus of the economy's health. It will impact workers and investors. More

Nanostate's Flash Flood is a coating designed to save your smartphone from accidental water exposure. Our test was a little more extreme. More

Frank & Oak, Airbnb, and Net-a-Porter are just a couple of companies investing in the antiquated medium. More

Lawmakers and consumer advocates are speaking out against the special treatment given to debt collectors hired by government agencies across the country. More